Upward Glenwood Springs sales trend continues in August
October 18, 2016
Retail sales in Glenwood Springs continued on record pace through August, continuing an upward year-over-year trend that has now spanned more than 30 straight months.
According to the city’s latest monthly sales tax report, retail sales were up 4.1 percent over August 2015.
For the year to date, sales are trending 5.1 percent ahead of 2015, which ended up being a record year in terms of total sales tax receipts for the city.
Through eight months, the city has collected $11.3 million on roughly $306.7 million in retail sales, based on the city’s total sales tax rate of 3.7 percent.
For all of 2015, Glenwood Springs collected $16.8 million on $455 million in sales, eclipsing the previous record year of 2008 just before the nationwide Great Recession hit.
In addition to regular sales taxes being up through August, the special lodging tax charged on overnight stays in Glenwood Springs was up 2.3 percent for the month. For the year to date, the lodging tax is up 6.2 percent, according to the latest report.
A breakdown of sales by sector shows that the largest single category, general merchandise, is trending slightly below last year, down 0.25 percent.
However, every other major sector is up for the year, including the broad miscellaneous retail category (up 10.3 percent); building materials and supplies (+10 percent); hotel/motel (+7.8 percent); automobile sales, parts and servicing (+6 percent); food stores (+3.4 percent); and bars/restaurants (+1.9 percent).
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